This picture shows the headquarters of the Monte dei Paschi di Siena bank on July 2, 2016 in Siena, in the Italian region of Tuscany.
Italy's number-three bank, Banca Monte dei Paschi di Siena, took a hammering on the stock market on July 4 as the European Central Bank told it to slash its large bad-debt burden. Investors, many of them shaken by Britain's vote to leave the European Union, are fretting over the fragile balance sheets of debt-laden Italian banks. Banca Monte dei Paschi di Siena, or BMPS, is among the banks at the forefront of those concerns with gross bad loans amounting to 46.9 billion euros ($52 billion).
/ AFP / GIUSEPPE CACACE (Photo credit should read GIUSEPPE CACACE/AFP/Getty Images)